Written by Eva Osborne-Sherlock from Agriland
One of the new administrators of Mona Dairy has said the company has not been able to raise the funding needed to continue operating, and so 24 employees have been made redundant.
Anthony Collier and Phil Reynolds of business advisory firm FRP were recently appointed as joint administrators of Mona Island Dairy Limited.
Mona Dairy announced at the end of last month that its cheese plant based in Anglesey failed to source sufficient short-term funding from its key stakeholders.
However, it said that it remained hopeful that it could secure a future for the factory, even if this must be done under new ownership.
Administrator and partner at FRP, Anthony Collier, said: “Mona Island Dairy has a compelling proposition with its modern, sustainable facilities.
“Unfortunately, it’s not been able to raise the funding needed to continue operating and so sadly 24 employees have been made redundant and we are helping them to access support from the Redundancy Payments Service.
“We are now focussed on finding a solution for the business and invite any interested parties to come forward.”
Mona Dairy uses a supply chain of more than 30 local farms and employed around 50 members of staff.
At the end of May, Mona Dairy said its key priority was securing a “safe home” for its 31 farmers and other staff after it announced its Anglesey cheese factory could not “keep functioning in its current form”.
The cheese factory was the product of five years of development and Mona Dairy said that it has had to fight against many factors outside of its control during the process of its establishment.
“We remain hopeful that we can secure a new outcome in the coming days and Mona Dairy will be able to continue its journey, even if that means it is under new ownership,” it said.
“The key priority of the main individual shareholders David Wynne-Finch and Ronald Akkerman is now to secure a safe home for our 31 farmers and for our loyal, dedicated staff, who believed in our vision and supported us on our journey.
For its farmers, Mona Dairy said it has secured an “established dairy processing company” as an interim milk buyer who will take their milk in the short-term.
“They will be paid for any milk supplied under this interim arrangement by that milk buyer,” Mona Dairy said.
The cheese producer said it will provide updates on the ongoing situation as and when it can.
The Farmers’ Union of Wales (FUW) subsequently called for support from the Welsh government for Mona Dairy.
FUW milk and dairy produce committee chair, Brian Walters, said the union is calling on the Welsh government for support in facilitating a positive outcome for the business.
“Undoubtedly, this loss will be hard hitting for both the local economy and the 31 producers that currently supply milk to Mona Dairy,” he said.
“Compliance with the Control of Agricultural Pollution regulations and the ever tightening noose of bovine TB infections continue to bring great difficulties and extortionate costs to the sector.”
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Anthony Collier and Phil Reynolds of business advisory firm FRP were recently appointed as joint administrators of Mona Island Dairy Limited.
Mona Dairy announced at the end of last month that its cheese plant based in Anglesey failed to source sufficient short-term funding from its key stakeholders.
However, it said that it remained hopeful that it could secure a future for the factory, even if this must be done under new ownership.
Administrator and partner at FRP, Anthony Collier, said: “Mona Island Dairy has a compelling proposition with its modern, sustainable facilities.
“Unfortunately, it’s not been able to raise the funding needed to continue operating and so sadly 24 employees have been made redundant and we are helping them to access support from the Redundancy Payments Service.
“We are now focussed on finding a solution for the business and invite any interested parties to come forward.”
Mona Dairy uses a supply chain of more than 30 local farms and employed around 50 members of staff.
Mona Dairy
At the end of May, Mona Dairy said its key priority was securing a “safe home” for its 31 farmers and other staff after it announced its Anglesey cheese factory could not “keep functioning in its current form”.
The cheese factory was the product of five years of development and Mona Dairy said that it has had to fight against many factors outside of its control during the process of its establishment.
“We remain hopeful that we can secure a new outcome in the coming days and Mona Dairy will be able to continue its journey, even if that means it is under new ownership,” it said.
“The key priority of the main individual shareholders David Wynne-Finch and Ronald Akkerman is now to secure a safe home for our 31 farmers and for our loyal, dedicated staff, who believed in our vision and supported us on our journey.
For its farmers, Mona Dairy said it has secured an “established dairy processing company” as an interim milk buyer who will take their milk in the short-term.
“They will be paid for any milk supplied under this interim arrangement by that milk buyer,” Mona Dairy said.
The cheese producer said it will provide updates on the ongoing situation as and when it can.
FUW
The Farmers’ Union of Wales (FUW) subsequently called for support from the Welsh government for Mona Dairy.
FUW milk and dairy produce committee chair, Brian Walters, said the union is calling on the Welsh government for support in facilitating a positive outcome for the business.
“Undoubtedly, this loss will be hard hitting for both the local economy and the 31 producers that currently supply milk to Mona Dairy,” he said.
“Compliance with the Control of Agricultural Pollution regulations and the ever tightening noose of bovine TB infections continue to bring great difficulties and extortionate costs to the sector.”
The post 24 employees made redundant – new Mona Dairy administrator appeared first on Agriland.co.uk.
Continue reading on the Agriland Website...
